41-45 Colby Place, Phillipsburg, NJ 08865

Local realty services provided by:Better Homes and Gardens Real Estate Green Team
41-45 Colby Place,Phillipsburg Town, NJ 08865
$625,000
  • - Beds
  • 3 Baths
  • 2,622 sq. ft.
  • Multi-family
  • Active
Listed by:richard shafer
Office:keller williams real estate
MLS#:3992931
Source:NJ_GSMLS

Price summary

  • Price:$625,000
  • Price per sq. ft.:$238.37

About this home

Investor Alert! This fully rented Triplex Multi-Family in the heart of Phillipsburg offers strong returns and turnkey stability. Renovated in 2024, 41-43-45 Colby Place features 2,622 square feet of updated living space across three spacious units. Set on a quiet, private one-way street, this turnkey property blends classic charm with modern convenience. Strong financials include a 10.11% Cap Rate, 10.20 Gross Rent Multiplier, and 1.5604 Debt Service Coverage Ratio making it a great candidate for a DSCR loan. Each unit showcases fresh upgrades like luxury vinyl plank flooring, new cabinetry and countertops, contemporary finishes, and split-system heating and cooling for efficient year-round comfort. The upper-level finished loft adds versatile bonus space perfect for storage, a home office, or additional living area. Fully occupied with reliable tenants, this property is generating income from day one with minimal maintenance required. Tenants appreciate the bright interiors, smart

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Home facts

  • Year built:1900
  • Listing ID #:3992931
  • Added:1 day(s) ago
  • Updated:October 17, 2025 at 03:53 AM

Rooms and interior

  • Total bathrooms:3
  • Full bathrooms:3
  • Living area:2,622 sq. ft.

Heating and cooling

  • Cooling:Wall A/C Unit(s)
  • Heating:Baseboard - Electric, Baseboard - Hotwater, Floor/Wall Heater

Structure and exterior

  • Roof:Asphalt Shingle
  • Year built:1900
  • Building area:2,622 sq. ft.
  • Lot area:0.17 Acres

Schools

  • High school:PHILIPSBRG
  • Middle school:PHILIPSBRG
  • Elementary school:PHILIPSBRG

Utilities

  • Water:Public Water
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$625,000
  • Price per sq. ft.:$238.37
  • Tax amount:$8,181 (2025)
The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as IDX Listing. Information deemed reliable but not guaranteed. 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker. This information is being provided for Consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing. Date Last Updated October 17, 2025

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